Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives $15.67 Consensus Price Target from Brokerages

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $15.67.

Several analysts have commented on OCUL shares. Piper Sandler reiterated an “overweight” rating and set a $15.00 target price on shares of Ocular Therapeutix in a research report on Friday, June 21st. Robert W. Baird dropped their price objective on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Ocular Therapeutix in a report on Thursday, August 1st. Finally, TD Cowen lowered Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 21st.

Ocular Therapeutix Trading Up 3.3 %

Shares of Ocular Therapeutix stock opened at $9.00 on Friday. Ocular Therapeutix has a 12-month low of $2.00 and a 12-month high of $11.31. The company has a 50-day simple moving average of $8.26 and a 200 day simple moving average of $7.50. The company has a quick ratio of 16.55, a current ratio of 16.64 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.40 billion, a P/E ratio of -6.67 and a beta of 1.28.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). Ocular Therapeutix had a negative return on equity of 52.75% and a negative net margin of 226.46%. The company had revenue of $16.40 million for the quarter, compared to the consensus estimate of $15.85 million. During the same period in the prior year, the company earned ($0.27) EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. Research analysts expect that Ocular Therapeutix will post -1.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors and hedge funds have recently modified their holdings of the business. Great Point Partners LLC acquired a new stake in Ocular Therapeutix during the fourth quarter worth about $3,122,000. Artia Global Partners LP acquired a new stake in Ocular Therapeutix during the fourth quarter worth about $1,962,000. Deltec Asset Management LLC grew its stake in Ocular Therapeutix by 9.6% during the second quarter. Deltec Asset Management LLC now owns 2,590,265 shares of the biopharmaceutical company’s stock worth $17,717,000 after buying an additional 226,181 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Ocular Therapeutix by 1,142.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 662,672 shares of the biopharmaceutical company’s stock worth $6,031,000 after buying an additional 609,328 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Ocular Therapeutix by 41.4% during the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after buying an additional 2,117,029 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.